GC Rieber Shipping: New charter agreement for the Polar Queen

Stock Exchange Notice
Date: 4 October 2018



GC Rieber Shipping - New charter agreement for the Polar Queen
GC Rieber Shipping has entered into a time charter agreement with a Tier 1
client for the offshore construction vessel Polar Queen. The charter holds two
firm periods, one period of 45 days plus options with commencement of operations
shortly, and one period of 50 days with commencement in February 2019. The
vessel will be used to perform walk-to-work duties and accommodation services.

This charter further strengthens GC Rieber Shipping's backlog, securing a
contract coverage of 92% for the fourth quarter of 2018.

For further information, please contact:
Einar Ytredal, CEO (act.), phone: +47 975 20 184
Christoffer Knudsen, Director of Chartering & Projects, phone: +47 926 18 226

About GC Rieber Shipping:
GC Rieber Shipping's business within offshore/shipping includes ownership in
specialized vessels, high quality marine ship management and project development
within the segments subsea, ice/support and marine seismic. The group has a
specialized competence in offshore operations in harsh environments as well as
design, development and maritime operation of offshore vessels.

GC Rieber Shipping currently operates and has direct and indirect ownership in
11 advanced special purpose vessels for defined markets within the subsea,
ice/support and marine seismic segments. The company has its headquarter and a
ship management office in Bergen, and an additional ship management company in
Yuzhno-Sakhalinsk (Russia). The company is listed on Oslo Børs with ticker RISH.

Further information is available on the company's website www.gcrieber-
shipping.com.

This information is subject to the disclosure requirements pursuant to section
5 -12 of the Norwegian Securities Trading Act.